President William Ruto has said that Kenya will work on scaling up its ties with Indonesia to increase trade.
President Ruto noted that the investment scope will also be broadened to bring about a balance of trade that is in favour of the Southeast Asian country.
“We will seize our energies and create the necessary environment for increased trade between our countries.” The president said.
President Ruto made the remarks yesterday at State House, Nairobi, during a bilateral meeting with his Indonesia counterpart president Joko Widodo on his State Visit to Kenya.
The two leaders also jointly addressed the media.
Ruto added that investment and trade between the two countries was valued at more than $600 million last year.
The high-yielding areas of focus, the President highlighted, include textiles and apparel, energy, mining, and oil production and refining.
He said Kenya will be seeking the support of Indonesia to penetrate the Association of Southeast Asian Nations, a fast‑growing trade bloc in Asia.
He explained that Kenya will also work with Indonesia to attract global firms to invest in value addition chains.
President Ruto stated that the move will help Kenya grow its industries and attain a trade balance with Indonesia.
He added that Kenya will cooperate with Indonesia in textiles and apparel, energy, mining, oil production and refining sectors.
“These sectors will grow our bilateral investment portfolio and contribute to increased trade.” He added.
The president argued that the Government is particularly eager to facilitate Indonesian firms to invest in edible oil processing.
“Indonesia’s investment will support the Government’s efforts to ensure affordable and accessible edible oil for the majority of the Kenyan people, especially in rural areas.” He said.
President Widodo pledged to work with Kenya for their shared prosperity.
He said his country was keen to ensure the partnership with Kenya was beneficial to the people.
At the same time, president announced Visa Free entries to Kenya for holders of Indonesian passports following talks with visiting President Joko Widodo of Indonesia.
This even as Kenya and Indonesia sign four Memoranda of Understanding (MOU) and a Letter of Intent to strengthen commercial collaboration and the promotion of investment between the two countries.
During the signing of the MOUs in the presence of the visiting president Joko, president Ruto said the two countries are scaling up collaboration to seize on emerging opportunities towards improving the balance of trade between our two nations.
“We have agreed to enhance and expand the partnership between Kenya and Indonesia with focus on four key issues: Food security, mining, renewable energy and health.” President Ruto added.
The presidents have also discussed trade and investment as well as collaboration in higher education, basic education, and vaccine development as well as concluded an MOU between the Kenya Pharmacy and Poisons Board and the Indonesia Food and Drug Authority, which will facilitate the strengthening, promotion, development, and implementation of regulatory cooperation in pharmaceutical products.
“An MOU that establishes a framework between Kenya Biovax and Indonesia’s BioFarma for cooperation in technology transfer, contract manufacturing, registration, supply, and marketing of vaccines portfolio that will be manufactured by BioFarma in the Republic of Kenya, has also been executed.” Ruto said.
President Ruto accorded Indonesian President Joko Widodo full State honours with a 21-gun salute.
He is scheduled to visit Tanzania, Mozambique and South Africa, for his first trip to Africa.
